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Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
 After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the fourth quarter amid a drop in coal prices, industry sources said.
Some analysts said China's demand for imported coal could increase further in coming months, as a recent wave of coal mine closures triggered by a mine explosion could raise domestic coal prices, making imports more attractive.
Australian producers said Chinese buyers were mostly seeking off-specification coal, with high heating value and ash content, for delivery through the rest of the year, while some buyers were also keen to book in shipments for delivery in early 2010.
However, at least three Australian producers said they had little of this high ash coal available to sell, after having sold large amounts of this type of coal to China over the second quarter.
"The economics look like the Chinese are now in favour of Australian coal, and there is also a notable pickup in enquiries from them on the back of freight easing and lower coal prices," a marketing executive at a large local coal mining firm said.
"But there's not much of those coal grades available now. And given the export constraints, producers would rather keep some spare tonnage as we head into winter months in the northern hemisphere, when prices are expected to go higher."
Australia's thermal coal prices on the globalCOAL Newcastle weekly index have fallen about 13 per cent since August to hover near a three and a half month low around $U66 a tonne, based on free-on-board (FOB) prices at the Newcastle port.
The globalCOAL benchmark price is based on coal with a heating value of 6,322 kcal/kg (GAR) and a maximum ash content of 15 per cent.
But high ash coal that the Chinese typically buy is much cheaper.
Some producers offer coal with 20 per cent ash content as low as about $US61, which takes its landed price into China to between $US90 and $US93 a tonne - compared with a domestic landed cost of around $US97 a tonne for coal with a heating value of 5,800 kcal/kg (NAR).
Analysts said Asian coal prices were poised for a rebound on the back of rising Chinese imports.
"Seaborne thermal coal prices may receive support in coming months following the closure of hundreds of small Chinese coal mines due to an accident," commodities analyst at the Commonwealth Bank of Australia David Moore said in a note.
In Indonesia, the world's largest exporter of thermal coal, producers and traders said China's renewed interest in imports had helped to soak up the market's excess supplies.
A surprising spell of dry weather, along with a drop in domestic coal demand, has resulted in a deluge of Indonesian coal and prompted producers in recent months to sell their supplies at very low margins amid stiff competition and tepid demand.
"Demand from Cina has improved over the past few weeks and that's helping to inject life into a market that would otherwise be struggling very hard to get by," one Indonesian producer said.
"The Chinese are also driving a hard bargain, but we're happy as long as we're able to sell the extra tonnes."
Another Indonesian producer said the firm had sold about 200,000 tonnes of sub-bituminous coal into China over the past month, with prices fixed at around $US45.50 a tonne FOB, based on coal with a heating value of 4,700 kcal/kg (NAR) and a maximum of five per cent ash.
In related news, The City of Pingdingshan in central China's Henan Province has ordered all 157 coal mine shafts within its district to close, after a mine explosion killed 35 people, Xinhua News Agency reported.
Source: Business Spectator
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Renaissance Capital - South Africa
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- GVK Power & Infra Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
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- Ambuja Cements Ltd - India
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- Parry Sugars Refinery, India
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- The University of Queensland
- Minerals Council of Australia
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- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
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- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
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- The State Trading Corporation of India Ltd
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- Orica Australia Pty. Ltd.
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- Electricity Authority, New Zealand
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- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
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- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
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- Edison Trading Spa - Italy
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- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Planning Commission, India
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- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
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- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
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- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- ICICI Bank Limited - India
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- Indonesian Coal Mining Association
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- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
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- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
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- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
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- New Zealand Coal & Carbon
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- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
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- Economic Council, Georgia
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- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
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- Medco Energi Mining Internasional
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- Sojitz Corporation - Japan
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- Kohat Cement Company Ltd. - Pakistan
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- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
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- Australian Coal Association
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- The Treasury - Australian Government
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